Violich Capital Management Inc. Lowers Stock Position in ConocoPhillips (NYSE:COP)

Violich Capital Management Inc. decreased its holdings in ConocoPhillips (NYSE:COP) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,094 shares of the energy producer’s stock after selling 7,920 shares during the quarter. ConocoPhillips comprises 0.9% of Violich Capital Management Inc.’s investment portfolio, making the stock its 28th largest holding. Violich Capital Management Inc.’s holdings in ConocoPhillips were worth $6,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips during the third quarter worth $26,000. Albion Financial Group UT grew its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the period. Reston Wealth Management LLC purchased a new position in ConocoPhillips in the third quarter valued at about $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 1.0 %

COP opened at $99.39 on Tuesday. The company has a market cap of $114.39 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The firm has a 50 day moving average price of $101.05 and a 200 day moving average price of $106.11.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Sell-side analysts expect that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insiders Place Their Bets

In other news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on COP. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Morgan Stanley started coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Piper Sandler cut their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target for the company. Finally, Evercore ISI restated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.72.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.